A deal to invest more than US$10 billion in crude oil production in East Africa has been reached.

The Lake Albert project entails the development of oil fields, processing facilities and a pipeline network in Uganda, as well as an export pipeline through Tanzania to transport Uganda’s crude oil to a port on the Indian Ocean. The country’s gross reserves are estimated at 6 billion barrels, and recoverable oil at 1.4 billion barrels.

The project covers the Tilenga and Kingfisher upstream oil projects in Uganda, as well as the construction of the East African Crude Oil Pipeline in Uganda and Tanzania. Tilenga is expected to start crude oil production in 2025.

TotalEnergies, a French multinational oil and gas company, and China National Offshore Oil Corporation will jointly invest in the project, which is expected to create nearly 160 000 jobs during development.

8 February 2021
Image: Total Energies